The following table sets out the movement of the unissued ordinary shares of the Company under outstanding options, the weighted average exercise prices and expiration dates.
2010 2009 Unissued number of
Weighted Unissued number of
Weighted ordinary
shares average
ordinary shares
average under
outstanding exercise
under outstanding
exercise options
price options
price
a
Balance at 1 January 14,920,398 13.26 14,373,192
13.15 Movements during the year:
– Issue of rights
– – 2,537,599 13.15
– Exercised 1,362,039 11.66 1,011,601
11.63 – Forfeited Expired
2,140,540 17.91 978,792 13.00
Balance at 31 December 11,417,819 12.58 14,920,398
13.26 Additional information:
Outstanding options exercisable at 31 December
11,417,819 12.58 14,920,398 13.26
Weighted average remaining contractual life of options outstanding at 31 December
1.77 years 2.5
years Range of exercise price of options outstanding
at 31 December
8.84 to 15.05 8.84 to 18.99
a Adjusted for effects of rights issue in January 2009
In 2010, 1,362,039 options 2009: 1,011,601 were exercised at their contractual exercise prices. During the year, the corresponding weighted average market price of the Company’s shares was 14.36 2009: 12.80.
Number of
Number of
Exercise unissued
During unissued
price per
DBSH Options ordinary shares
the year ordinary shares
share
a
Expiry date
Forfeited 31
December 1
January 2010
Exercised Expired
2010
March 2000
b
1,036,318 –
1,036,318 –
17.75 06 March 2010
July 2000
b
875,153 –
875,153 –
18.99 27 July 2010
March 2001 3,486,521
24,444 195,270
3,266,807 15.05
15 March 2011 August 2001
153,395 33,408
– 119,987
11.00 01 August 2011
March 2002 2,865,806
397,116 –
2,468,690 12.53
28 March 2012 August 2002
149,272 9,410
3,529 136,333
10.43 16 August 2012
December 2002 11,763
– –
11,763 9.75 18 December 2012
February 2003 2,371,584
332,987 8,233
2,030,364 8.84
24 February 2013 March 2004
2,652,353 370,731
16,704 2,264,918
12.53 02 March 2014
March 2005 1,318,233
193,943 5,333
1,118,957 12.81
01 March 2015 14,920,398
1,362,039 2,140,540
11,417,819
a Adjusted for effects of rights issue in January 2009 b Expired in 2010
41.3 DBSH Share Plan Under the DBSH Share Plan the Share Plan, the Company’s
ordinary shares may be granted to Group executives who hold such rank as may be determined by the Committee appointed
to administer the Share Plan from time to time. The awards could be performance-based andor time-based.
Where time-based awards are granted, they will only vest after the satisfactory completion of time-based service conditions.
Participants are awarded shares of the Company, their equivalent cash value or a combination of both as part of their
deferred bonus at the discretion of the Committee.
A time-based award comprises two elements, namely, the main award and the “kicker” award. The shares comprised in the
“kicker” award constitute twenty percent of the shares comprised in the main award. Effective 2010, the deferral
period for unvested shares was extended from a 3-year period to a 4-year period showing a more prudent risk management
arrangement. Under the new vesting schedule, thirty-three percent of the shares comprised in the main award will vest
two years after the date of grant. A further thirty-three percent of the shares comprised in the main award will vest three years
after the date of grant. The remainder thirty-four percent of the shares comprised in the main award, together with the shares
comprised in the “kicker” award, will vest four years after the date of grant. For time-based awards, the fair value of the
shares awarded are computed based on the market price of the ordinary shares at the time of the award and is amortised
through the income statement over the vesting period. At each balance sheet date, the Group revises its estimates of the
number of shares expected to vest based on non-market vesting conditions and the corresponding adjustments are
made to the income statement and Share Plan reserves.
The following table sets out the movement of time-based awards granted in the current and previous fi nancial years
pursuant to the Share Plan and their fair values at grant date.
Number of shares 2010 grant
2009 grant
Balance at 1 January 2010
Not applicable 4,115,463
Granted in 2010 4,367,999 Not
applicable Vested in 2010
31,468 –
Forfeited in 2010 204,884 170,803
Balance at 31 December 2010 4,131,647 3,944,660
Weighted average fair value per share at grant date
14.28 8.18
